Standard Chartered, Barclays target wealthy Saudi investors

Standard Chartered, the UK bank that depends on Asia for most of its profit, and Barclays are expanding in Saudi Arabia as oil above $100 (Dh367) a barrel and record bond sales bolster earnings in the biggest Arab economy.
“We’d be crazy to limit ourselves to a handful of bankers when we can see oil prices are going to sustain the Saudi economy for the foreseeable future,” Rory Gilbert, the head of Middle East and North Africa at London-based Barclays’ wealth management unit, said in an interview last week in Dubai………………………………………..Full Article: Source